[Business Wire] Celgene Corporation (NASDAQ:CELG)(TREND ANALYSIS) announced that results from a double-blind, placebo-controlled, multicenter phase II trial of three doses of GED-0301 (mongersen) in patients with active Crohn’s disease were published in the March 19 issue of The New England Journal of Medicine.
“GED-0301 offers a unique approach to treating Crohn’s, using antisense technology to target a key intracellular signaling protein thought to be involved in intestinal inflammation and the pathogenesis of the disease,” said Professor Giovanni Monteleone, University of Rome Tor Vergata. “This orally administered therapy is designed to act locally with its novel mechanism of action. The results from the phase II trial suggest that GED-0301 should be studied further in phase III trials for Crohn’s disease.”
Stock Performance: Click here for a free comprehensive Trend Analysis Report
The company is currently valued at $102.88 billion and closed the last trading session at $128.5. The stock has 50-day moving average of $120.1 and a 200-day moving average of $102.36.
Celgene Corporation (NASDAQ:CELG) is currently trading 0.43% below its 52-week-high, 92.22% above its 52-week-low and in the range of $113.52-$129.06 over the past month. The 1-year range for the stock is $66.85-$129.06. Celgene Corporation (CELG) has a price to book ratio of 15.76 versus Nasdaq average of 4.77. The company’s share price has outperformed the Nasdaq year to date by over 12.19%.
Celgene Corporation (CELG) current short interest stands at 12,784,272 shares. It has increased by 16% from the same period of last month. Around 1.6% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 5,091,763 shares, the number of days required to cover the short positions stand at 2.7 days.
Stock Analyst Perspectives: Click here for a free Trend Analysis Report
There are currently thirty analysts that we track that cover CELG. Of those thirty, twenty-five have a buy rating, four have a hold rating, and one has a sell rating. On a consensus basis this yields to a Buy. The overall consensus target price stands at $139.25 which represents an upside of 8.37% from the last closing price of $128.5.
Recently, several research firms updated their ratings on the stock. Indeed, in the last five days, an average price target of $140.7 has been given to the stock, which represents an upside of 9.49% from the last closing price.
Indeed, SunTrust Robinson Humphrey reiterated their buy stance on March 20th, with a target price of $141, which represents an upside of 9.73% from the last closing price. Another research firm, Sanford C. Bernstein & Co, reiterated their outperform stance on the same day, with a target price of $158, which translates into an upside of 22.96%. Finally, Wells Fargo Securities reiterated their outperform stance on March 18th.
Company Profile
Celgene Corporation is a global biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
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